Vince Walden was the first person I interviewed for my Innovation in Compliance podcast back in March 2018. That first episode drew nearly 5000 listeners. We were clearly onto something. It took a while but I finally convinced Vince that he needed his own podcast so with no small amount of pride of ideaship, I want to introduce The Walden Pond as the latest offering on the Compliance Podcast Network. Walden has been in the forensic technology compliance and investigation field for over 2 decades, and in the Walden Pond, he is going to be exploring practical, timely and relevant information by talking to other experts in the field. Henry David Thoreau’s focus reflecting upon simple living in natural surroundings. Our world isn’t as simple as Thoreau’s Walden Pond and so in this Walden Pond, we’ll be looking at business, technology and compliance trends that are complex – but necessary for doing business. The host anti-fraud expert Vince Walden is talking to experts about the technology and compliance trends you need to know about to keep your compliance and fraud detection programs relevant. If you’re looking for insights that are practical, timely and innovative… Welcome to The Walden Pond.
Episode 1-Welcome to The Walden Pond.
In this introductory episode, host and anti-fraud expert Vince Walden talks about why he created a podcast dealing with the technology and compliance trends you need to know about to keep your compliance and fraud detection programs relevant. If you’re looking for insights that are practical, timely and innovative… Welcome to the Pond.
Episode 2-Control When You Get Paid, with Jason Lee
In this episode, host Vincent Walden talks with Jason Lee, CEO of DailyPay, a technology solution that lets employees control when they get paid. Fortune 500 companies like Kroger, Berkshire Hathaway, Adecco Staffing and McDonald’s are DailyPay clients. Jason stresses that the daily pay industry and the payday loan industry are completely different. Whereas payday loans give loans to employees which they need to pay back with interest, DailyPay makes employees’ own wages available to them, just like payroll.
The business model is simple. When you work, your employer reports your hours to DailyPay via their software. Your hours are converted into an available balance which you can access whenever you want prior to payday. Whatever you take upfront gets netted out of your paycheck on payday. There is no cost to your employer, but you pay a one-time transfer fee whenever you request a payment.
Making their wages available to employees when they need it helps to reduce cash shrinkage to almost zero. Jason has also found that time clock compliance shoots up when companies implement DailyPay.
Episode 3-Automating e-Discovery with Anil Kona
Legal litigation management represents a multibillion-dollar cost for law firms and corporations. It is a labor-intensive process requiring multiple software applications. Vertical Discovery provides a complete end-to-end workflow automation solution to this problem, powered by artificial intelligence and machine learning. Their software solution, Optimum, was developed by a collaborative team of forensic professionals, e-discovery subject matter experts, legal professionals, and product development specialists from Microsoft. CEO Anil Kona speaks with host Vincent Walden about how Optimum can help law firms and corporations reduce cost and increase productivity.
Optimum allows you to manage your litigation matters from a single dashboard. You are able to choose best-in-breed applications for each aspect of litigation management – including HR, asset management and EDRM (Electronic Discovery Reference Model) – and Optimum integrates these tools so that they all speak to each other. In addition, Optimum is template-driven. Once you define the type of litigation matter, it automatically shows you the steps to take to meet requirements. This makes litigation consistent and repeatable across cases. You will also see ROI savings in the form of productivity increases of 55 to 60%, manual error reduction of 96 to 98%, and being able to predict the outcome of your case.